Apple Inc. (NASDAQ:AAPL) is Legacy Capital Group California Inc.’s Largest Position

Legacy Capital Group California Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the 2nd quarter, Holdings Channel reports. The fund owned 129,230 shares of the iPhone maker’s stock after selling 441 shares during the period. Apple comprises about 9.8% of Legacy Capital Group California Inc.’s portfolio, making the stock its largest position. Legacy Capital Group California Inc.’s holdings in Apple were worth $27,219,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Capital Investment Counsel Inc boosted its position in Apple by 19.6% during the 2nd quarter. Capital Investment Counsel Inc now owns 590,475 shares of the iPhone maker’s stock valued at $124,366,000 after acquiring an additional 96,698 shares in the last quarter. Summit Global Investments lifted its stake in shares of Apple by 28.3% during the 2nd quarter. Summit Global Investments now owns 89,915 shares of the iPhone maker’s stock worth $18,938,000 after purchasing an additional 19,853 shares during the last quarter. Hall Laurie J Trustee boosted its position in Apple by 1.1% during the second quarter. Hall Laurie J Trustee now owns 60,797 shares of the iPhone maker’s stock valued at $12,805,000 after purchasing an additional 686 shares in the last quarter. GFG Capital LLC grew its stake in Apple by 0.3% in the second quarter. GFG Capital LLC now owns 113,656 shares of the iPhone maker’s stock valued at $23,938,000 after purchasing an additional 325 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Apple in the second quarter worth about $3,417,000. Institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. UBS Group increased their target price on shares of Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Maxim Group reiterated a “hold” rating and set a $203.00 price objective on shares of Apple in a report on Tuesday, September 10th. Bank of America restated a “buy” rating and set a $256.00 target price on shares of Apple in a research note on Thursday, September 5th. Robert W. Baird increased their price target on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Sanford C. Bernstein boosted their price target on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $239.17.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,884 shares of company stock valued at $23,723,887. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 0.3 %

Shares of Apple stock opened at $228.20 on Friday. The stock has a market cap of $3.50 trillion, a P/E ratio of 35.49, a P/E/G ratio of 2.62 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The stock’s 50 day simple moving average is $222.41 and its 200-day simple moving average is $200.19. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the previous year, the firm earned $1.26 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Analysts predict that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio is presently 15.55%.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.